Borghesi, Richard; Houston, Joel F.; Naranjo, Andy - In: Journal of Corporate Finance 26 (2014) C, pp. 164-181
Corporate managers often invest in activities that are deemed to be socially responsible. In some instances, these … investments enhance shareholder value. However, in other cases, altruistic managers or managers who privately benefit from the … enhancing. Given this backdrop, we investigate the various factors that motivate firm managers to make socially responsible …